Transforming Pricing and Selling in the Chemical Industry

Growth in a Challenging Industry 

Since 2009, chemical companies have struggled to recover revenue, margin, and earnings. Today, these challenges are even more difficult. On one end, you have an evolving landscape with new regulations, fluctuating feedstock and raw material prices, uncertain trade and tax policies, rapid commoditization of the industry, and COVID-19’s rapid acceleration of digital B2B selling. On the other, you have shifting customer preferences and expectations which are redefining customer loyalty, increasing marketplace pricing transparency, lowering switching costs, and increasing pressure towards sustainability. 

To grow revenue and improve profitability, chemical companies must focus on the process of delivering the best possible omnichannel buying experience to customers by transforming the end-to-end pricing and selling process. The digital transformation of this process has the greatest impact on the business by improving margin and sales volume. It also provides the flexibility to dynamically change pricing and selling strategies in the face of unprecedented disruption such as COVID-19

PROS provides a single, dynamic, scalable, AI-powered commerce platform that enables chemical companies to transform their end-to-end pricing and selling process and offer a frictionless and personalized customer experience for ultimate growth. Our integrated platform provides analytic, pricing, and selling solutions. 

 

Top 4 Insights in this Executive Brief  

  1. By addressing pricing discipline, a chemical company recovered $1M in margin leakage per month and improved margin by 20 basis points. 
  2. Through price management, a chemical company quickly, accurately, and automatically deployed optimized prices for 40K products across 85 geographies. 
  3. With insights and analytics, a global chemical firm’s management team easily identified underperforming products and customers and took immediate corrective action. 
  4. A multi-billion-dollar chemicals and materials company minimized internal complexity of workflows and approvals and improved their quote speed by 40%.  

Additionally, Learn How PROS Enables Chemicals Companies to…   

  • Increase Margins 
  • Improve Quote Speed & Accuracy 
  • Improve Pricing Discipline 
  • Deploy Prices, Automatically 
  • Identify Underperformers to Maximize Profitability 
  • Increase Transparency & Visibility 
  • Increase Order Volume 
  • Accelerate Sales Effectiveness 
  • Win with Change Management 
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